Financial Technology

Excited XSP Signs its First Broadridge Client to the GCAS Offering

A few days ago, through an alliance with popular corporate actions service provider XSP, Broadridge Financial Solutions, announced that to use its Global Corporate Actions Solution (GCAS) product, it has signed a large North American broker-dealer as the inaugural client.

In today's evolving marketplace, as challenges persist for the financial industry, speed and accuracy of a firm's global corporate actions processing can be a competitive advantage.

Faster entry into new markets, improvement in operating efficiency as well as navigation of the complexities of regulatory compliance, reduction in data management costs, enhancement of the customer experience, more effective management of risks and tangible ROI are all key market drivers causing financial firms to rethink its approach to the corporate actions function.

"Despite significant industry advances in automating the investment lifecycle, traditional global corporate actions processing remains outdated and is often labor-intensive, tending to result in outcomes prone to errors and inaccuracy," said Susan Certoma, president of Brokerage Processing Services, Broadridge.

While significantly enhancing the quality of data, productivity and delivery options, she added, Broadridge has a unique opportunity to enable implementation of a fully-managed end-to-end, automated process for corporate actions that reduces costs, risks and complexity, through the GCAS offering.

In order to provide targeted solutions for specific departments across all asset classes, Broadridge's fully-managed service model is tailored to individual client needs, such as higher accuracy in announcements from multiple sources, and the timely delivery of clean events to decision makers.

Brendan P. Farrell Jr., chief executive officer at XSP, concluded that it is excited to sign its first Broadridge client to the GCAS offering.

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